RedBox Instant released, looks to compete with Netflix and others

Online movie streaming sites like Netflix, Hulu Plus and Amazon all have a new competitor: RedBox. While they have been around for a while, the company is now advancing into online services with RedBox Instant.

According to USA Today, RedBox Instant finished testing and was released for commercial use Thursday from Coinstar and Verizon. The new online video streaming services are out to attract new customers and pull customers from competitors with unique services.

Verizon and Coinstar announced the idea last year and started testing the streaming in December. Customers were able to register at RedBoxInstant.com for a code.

RedBox Instant is part of RedBox movie rental services which has 35,000 kiosks in the nation. With RBI, customers have 4,600 titles streaming online and also get four credits to use at a local kiosk center. The online library is much smaller than other services like Netflix and Hulu Plus.

RBI also hopes that the costs they have available will attract people to their new idea, reports Business Week. For either $8 or $9 a month, subscribers can watch any online title an unlimited amount of times. They also get the four credits a month to use at a kiosk center. Also available are on-demand rentals and digital sales on newer movies.

“We think we’ve got a real strong market position for getting the titles faster than other services,” said CEO Shawn Strickland. “We’ll grow from there.”

The new service is planning on offering titles to customers as soon as they hit any of the markets like on-demand, download to purchase, kiosk rentals and online streaming. RBI could see a possible customer turnout of 35 million.

"There’s a core group of DVD lovers who really see the value,” Strickland said. “They see the value of the four credits and the streaming looks like a very affordable add on.”